Coure has always been an IT firm for years. How has the journey been?
COURE Software & Systems Limited (“COURE”) is a Platform Services Provider with a focus on the provision of accurate, secure and relevant data to improve its clients’ business processes and operations. We started out in the US in 1998 at a time when the internet and modern technology, as we know it, were taking off. At that time, we were focused on networking and physical systems integration. Over the years, the shifts in technology and the need to be scalable beyond billing for individual man hours caused us to migrate our technology services first to web and application development, then to what we currently provide today, which are platforms that leverage standardized and aggregated data to enable and enhance the operational efficiency of our clients.
It has been an exciting 25-year journey of change and transformation! Our flagship solutions, ANQ and HUB, have been enabling the telecom, fintech, banking and various other sectors to increase their value and service provision to their customers. Our development teams consist of analysts, UI/UX experts, programmers, product managers and network engineers all of whom have many years of experience in the design, development and support of clean, functional and aesthetically appealing applications and solutions.
Do you think that the Nigerian IT space is evolving in terms of digitization?
The IT space is constantly evolving with the advancement of digital technology such as cloud computing, AI, IoT, blockchain, etc. Nigeria has not been left out of this. The trend towards digital transformation, automation and artificial intelligence is accelerating, particularly in the wake of the COVID-19 pandemic. In the past, there were a lot of manual processes in business, and while automation was being implemented via IT, the pace was average. The pandemic accelerated digitization in Nigeria and across the world as businesses and people had to survive without close contact. Many businesses were forced to shut down. For those that were better prepared, their adoption of digital technology and new ways of working became an advantage, and customers embraced online and digital service delivery. The IT industry continues to develop innovative solutions to make life easier for people and to help businesses harness the power of digital technology to improve operations, products, services, and customer reach.
Can you consider yourself as a fintech firm?
COURE is a platform services provider with key partners in the telco, financial, and technology space. Through our platforms, we are able to aggregate various types of data, analyze the data, and create services that provide value to these organizations and generate revenue for them. This makes us an enabler of fintech firms as opposed to being one ourselves.
Tell us more about your ANQ Platform?
Our ANQ (All Number Query) is a lookup platform that provides quick and easy access to information which enables our clients support their customers in areas such as Fraud prevention, Routing and KYC (Know Your Customer) using various number and data sources. Our partnership with data owners and access to large volumes of diversified data along with our processing capacity and intelligent algorithms enables us apply real-time analytics to data that is being searched against and provide information to businesses to aid their decision-making.
Tell us more about your fraud prevention solutions?
Our fraud prevention solution adopts strategies, technologies, and processes to protect individuals, businesses, and organizations from fraudulent activities such as payment fraud, account takeover, and identity theft. Using intelligent algorithms, we check and flag fraudulent transactions before approval. Our algorithm takes into consideration numerous data points and provides a risk level rating for the transaction, thus minimizing losses, optimizing efficiencies, and protecting customers from fraud. This service helps achieve a faster and more effective fraud detection process leading to reduced financial loss, increased customer retention, protection of brand and reputation.
Are they only for banks and fintechs?
Our solutions cater to a cross-section of organizations that provide services to end customers. This includes banks, fintechs, lenders, payment services companies, telco service providers, retailers and value-added service providers. Fraud can affect any organization that deals with sensitive data or valuable assets. Many businesses outside of the financial sector invest in fraud prevention solutions to protect themselves against financial losses, maintain customer trust, and avoid legal and financial penalties. The same applies to KYC, Routing and Communication. These are all services that are relevant for organizations that provide services to end consumers.
Your Hub Platform is one of a kind. Do you think that SMEs can deploy it? If yes, how?
Our HUB platform is what is called a CPaaS – Communication Platform as a Service. It enables Aggregators and VAS providers in the telecom industry integrate with the Telcos, then safely and accurately deliver messages between the applications through the Telcos and onward to the end customer and back. Message types include Bulk SMS, USSD, Whatsapp and RCS (Rich Communication Services). It also addresses a number of industry issues and concerns such as the management of Sender ID’s and Short codes.
HUB is a ready-to-use platform for SMEs to create and manage their services, content, and subscriptions. The platform allows for hosting, management, and delivery of VAS services to Aggregators or Operators on behalf of the Service Provider. HUB was specifically built to address some of our local and African peculiarities. It is easy to use for SME’s as there is no local installation required, and for most of the services, the client can login via our web interface to enable management and delivery of their services. In the event the client already has a local system that they want to integrate into HUB, we have API’s which they can leverage to be up and running in a short time. HUB enables them to integrate once and have access to all the Telcos and multiple aggregators based on their preference thus simplifying their onboarding process. HUB’s messaging capabilities such as Whatsapp and RCS, help SMEs build better relationships with their customers, improve customer experience, reduce customer support calls, and improve communication security. They can also benefit greatly from using bulk SMS and USSD services as part of their marketing and communication strategies. These services offer a cost-effective and efficient way to engage with customers, provide information, and increase sales.
What are the challenges you face in Nigeria?
Given the insecurity challenges and the economic hardship in the country, we have witnessed the loss of talent across many sectors of the economy including the technology sector. This has made it paramount that we adopt an aggressive recruitment and talent retention strategy in a bid to forestall the negative impacts of this trend affecting our business.
“HUB was specifically built to address some of our local and African peculiarities. HUB is very easy to use for SME’s as there is no local installation required and for most of the services, the clients can login via our web interface to enable management and delivery of their services.”
Do you have a presence in other ECOWAS countries?
Our routing service is present in most African countries including Nigeria, South Africa, Ghana, Kenya, Tanzania, Côte D’Ivoire, Benin, Senegal, Tunisia, Morocco, and Egypt. Our 2023 roll-out plan includes expansion to key regions within the continent with a focus on Ghana, Uganda and South Africa.
How do you do your Data Monetization?
COURE partners with data owners in the telco, banking and payment service sectors to aggregate and centralize data that can be analyzed to extract intelligent insights, and in an automated and real-time manner, provide those insights to service providers for decision-making. This offers data owners the opportunity to monetize their data which would otherwise sit idle. It also enables users to gain secure access to their data across different service providers, making it easier for them to use third-party applications which require these data. This presents a mutually beneficial business relationship between COURE, a proven platform provider, data owners, and end customers. In providing these analytics, COURE is careful to adhere to global data privacy laws and security standards, being an NDPR-certified organization.
How can the Public Sector leverage your solutions?
COURE’s services and solutions are relevant for public sector use. The HUB CPaaS (Communication Platform as a Service) offers an opportunity for such organizations to improve communication with citizens, enhance security, streamline billing, provide real-time transaction notifications, and gain valuable insights through data analytics. The service is currently used by a number of public sector entities including the CBN. Our fraud prevention solutions can also help public sector entities protect against fraud and cyber threats. This is especially important when handling sensitive information, such as personal data or financial information.
What do we expect from you this 2023?
This year 2023, COURE will be commemorating its 25th year of existence. This is a remarkable milestone for us and represents a pivotal point in our journey. We will also be expanding our services to other countries on the continent as well as adding a 3rd platform to our suite, the OpenBanking platform. The OpenBanking platform offers financial data owners the opportunity to monetize their data by making it available to third-party financial services securely and efficiently via APIs, and in alignment with the CBN’s Open Banking Initiative. We have already partnered with some banks to pilot the solution and are excited about the ease and convenience that customers will enjoy when they use applications that leverage these APIs. Needless to say, we expect great times ahead!
“Given the insecurity challenges and the economic hardship in the country, we have witnessed the loss of talent across many sectors of the economy including the technology sector. This has made it paramount that we adopt an aggressive recruitment and talent retention strategy in a bid to forestall the negative impacts of this trend affecting our business.”
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